Recent advances in AI technologies have granted organizations and individuals alike unprecedented productivity, efficiency, and operational benefits. AI is, without question, the single most exciting emerging technology in the world. However, it also brings enormous risks. While the dystopian, AI-ruled worlds of sci-fi films are a long way off, AI is helping cyber threat actors launch attacks at a hitherto unknown scale and level of sophistication. But what are AI-powered attacks?

APIs have become the backbone of modern digital ecosystems, powering everything from mobile apps to e-commerce platforms. However, as APIs grow in importance, they also become prime targets for malicious actors. Increasingly, bots are being weaponized to exploit vulnerabilities, overwhelm systems, and siphon sensitive data—all without triggering alarms until it’s too late.

API abuse and web application bot attacks are often confused. This is understandable, as both involve automated interactions and are usually executed by bots. Both attack vectors are prevalent; criminals are always eager to disrupt the foundations on which businesses base their operations to achieve their malicious goals and they frequently automate their actions for maximum results.

APIs are the backbone of interconnected applications, enabling organizations to innovate, integrate, and scale rapidly. However, as enterprises continue to expand their digital ecosystems, they often encounter a common and complex challenge: API sprawl. Unchecked, API sprawl can lead to increased security risks, inefficient resource utilization, and the frustrating experience of redundant or hard-to-locate services across teams. Postman details the explosive growth in APIs in their State of API report.

There is no doubt that attackers have shifted their attention to APIs. Wallarm’s API ThreatStats research identifies that 70% of attacks now target APIs instead of Web Applications. While APIs have become the backbone of innovation and connectivity for businesses, they have also introduced a vast attack surface that’s challenging to defend with traditional methods alone.

There’s no doubt that API security is a hot topic these days. The continued growth in API-related breaches and increase in publicized API vulnerabilities has pushed API security to the top of CISO’s lists. The tools in the market for API security still have room for improvement, of course. One of the challenges security practitioners face with APIs is understanding the context in which an attack took place.

API attacks can be costly. Really costly. Obvious financial impacts like legal fines, stolen finances, and incident response budgets can run into the hundreds of millions. However, other hidden costs often compound the issue, especially if you’re not expecting them. This article will explore the obvious and hidden costs of API breaches, their long-term business impacts, and how you can communicate the importance of API security to business stakeholders and decision-makers.

AI and APIs have a symbiotic relationship. APIs power AI by providing the necessary data and functionality, while AI enhances API security through advanced threat detection and automated responses. In 2023, 83% of Internet traffic traveled through APIs, but there was a 21% increase in API-related vulnerabilities in Q3 2024, severely impacting AI. The relationship between AI and APIs expands capabilities while simultaneously increasing potential vulnerabilities.

In a concerning trend, cybercriminals are leveraging DocuSign's APIs to send fake invoices that appear strikingly authentic. Unlike traditional phishing scams that rely on deceptively crafted emails and malicious links, these incidents use genuine DocuSign accounts and templates to impersonate reputable companies, catching users and security tools off guard.

Recently, a critical API vulnerability in FortiManager (CVE-2024-47575) was disclosed. Certain threat actors exploited it in the wild to steal sensitive information containing configurations, IP addresses, and credentials used by managed devices. In advanced notification emails, Fortinet warned its users of the vulnerability and mitigation steps. The vulnerability has a critical severity rating of 9.8 out of 10.